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SEC sanctions to be faced by PIMCO due to trading infractions

Bill Gross


Pimco, the asset manager, disclosed on Monday that it had received a Wells notice from the U.S. Securities and Exchange Commission. A Wells notice is a statement of an intention or “threat” by a regulator to recommend that an investigation be started, but not necessarily the actual start of a formal proceeding. The SEC is investigating how PIMCO purchased and valued certain bonds in its Total Return Exchange Traded Fund BOND, -0.44%  , launched in 2012, the Wall Street Journal reported on Monday.

The Financial Times reports that activity being investigated occurred in the first four months after the ETF was launched. Bill Gross, who was Pimco’s chief investment officer at the time, was among the executives interviewed by the SEC. Gross left Pimco in a huff last year after some chief lieutenants and staff complained about his management style. The Wall Street Journal reported that the SEC is checking to see if investors were given inaccurate information about the fund’s performance….

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Market Watch by Francine Mckenna




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